1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bonufazy [111]
2 years ago
12

Mack writes a check to his maid, Marianne, in payment for services rendered. Marianne indorses the check in blank and gives the

check to her masseuse, Janet, in exchange for a neck massage. Without indorsing the check, Janet gives the check to Martin, her newspaper carrier in payment for the next four month's delivery charges. Martin indorses with a special indorsement and negotiates the check to his church, St. Mark. The church indorses the check and deposits it in its bank account. If Mack's bank later dishonors the check, to whom may St. Mark's look for recovery?a. Martin onlyb. Only Mackc. Mack, Marianne, Janet, and Martind. Mack, Marianne, and Martin
Business
1 answer:
Minchanka [31]2 years ago
5 0

Answer:

Explanation:

Mack, Marianne, and Martin

Explanation:

From the question, we are informed about, Mack who writes a check to his maid, Marianne, in payment for services rendered. Marianne indorses the check in blank and gives the check to her masseuse, Janet, in exchange for a neck massage. Without indorsing the check, Janet gives the check to Martin, her newspaper carrier in payment for the next four month's delivery charges. Martin indorses with a special indorsement and negotiates the check to his church, St. Mark. The church indorses the check and deposits it in its bank account. If Mack's bank later dishonors the check. In this case St. Mark's may look for recovery from Mack, Marianne, and Martin. This is because the check was endorsed by three of them and as a result of this anything that happened to the check may be it's not been accepted or other things, they will be held responsible for it since they signed at the back of the check.

You might be interested in
Parker Company uses the perpetual inventory system. It bought merchandise on account from Beige Inc, invoice no. 342, $20,000; t
kupik [55]

Answer:

b. A debit to Merchandise Inventory of $21,800, a credit to Accounts Payable of $21,800

Explanation:

Parker Company uses the perpetual inventory system. It bought merchandise on account from Beige Inc, invoice no. 342, $20,000; terms 1/15, n/30; dated June 25; FOB San Francisco, freight prepaid and added to the invoice, $1,800 (total $21,800).

The following journal entries records this purchase transaction:  A debit to Merchandise Inventory of $21,800, a credit to Accounts Payable of $21,800

<u>The reason is that with a perpetual inventory system, transportation costs are added directly to the inventory balance</u>

<u />

5 0
3 years ago
Advertising department expenses of $26,700 and purchasing department expenses of $46,700 of Cozy Bookstore are allocated to oper
allochka39001 [22]

Answer:

The advertising department expense allocated to each department are as follows:

Books Dept = $11,748

Magazines Dept = $8,010

Newspapers Dept = $6,942

Totals advertising department expenses allocated = $26,700

The purchasing department expenses allocated to each department are as follows:

Books Dept = $20,081

Magazines Dept = $10,741

Newspapers Dept = $15,878

Total purchasing department expenses allocated = $46,700

Explanation:

Note: See the attached excel for the completed table used in allocating the expenses of the two service departments (advertising and purchasing) to the three operating departments.

From the attached excel, the advertising department expense allocated to each department are as follows:

Books Dept = $11,748

Magazines Dept = $8,010

Newspapers Dept = $6,942

Totals advertising department expenses allocated = $26,700

From the attached excel, the purchasing department expenses allocated to each department are as follows:

Books Dept = $20,081

Magazines Dept = $10,741

Newspapers Dept = $15,878

Total purchasing department expenses allocated = $46,700

Download xlsx
7 0
3 years ago
Charleston, Inc. has Accounts Receivable of $170,000 and an Allowance for Doubtful Accounts of $11,000. If it writes-off a custo
Romashka [77]

Answer:

$159,000

Explanation:

The double entry to record the writes off balances which are the bad debts of Customers who will not pay the debt, will include debit to allowance which is decrease in the allowance and credit to accounts receivable which is also a decrease to accounts receivable:

Dr Allowance for doubtful account $1,100

Cr Accounts Receivable                           $1,100

Similarly the increase in Allowance for Doubtful Accounts of $11,000 will be treated totally opposite of the decrease in Allowance for Doubtful Accounts above:

Dr Accounts Receivable               $11,000

Cr Allowance for doubtful account    $11,000

Now, the increase in allowance is deducted from opening accounts receivables and vice versa. The treatment is given below:

Opening balance of Accounts receivables             $170,000

Accounts Receivable                                                ($1,100)

Allowance for Doubtful Debt    ($11,000 - $1,100)   <u>   $9,900 </u>

Accounts Receivable (Net)                                       $159,000

5 0
2 years ago
A firm estimates its average total cost at 90 units of output to be $15. If the firm can sell all of its output at a market pric
SSSSS [86.1K]

Answer:

435

Explanation:

5(90)=450-15=435

8 0
2 years ago
What would it mean to you and/or your family to be a part of Career Source Tampa Bay's 2021 Summer Job Connection program? What
ycow [4]

Answer:

It is job connection program organized by Career Source Tampa Bay for the youths of Hillsborough. It provides a platform for the unemployed youths of Hillsborough to connect themselves to the potential employers by learning new skills and experiences.

Explanation:

Career Source Tampa Bay is organizing a summer youth job connection program for the year 2021 for the youths of the Hillsborough County. It is summer job connection program for the youth who are aged between 16 to 24. It is organized by Career Source Tampa Bay.

It provides an opportunity for the youths and prepare them with skills and know how about the targeted jobs. It introduces them to real work filed and exposes them to new ideas and experiences and the potential career paths for the future jobs.

7 0
3 years ago
Other questions:
  • The development of kidney failure becomes more prevalent with age; therefore, the amount of _______ in the diet must be reduced.
    9·1 answer
  • Match each of the global business practices with an example of its use.
    5·1 answer
  • Bronco, Inc., imposes a payback cutoff of three years for its international investment projects. Year Cash Flow (A) Cash Flow (B
    7·1 answer
  • The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the followi
    15·1 answer
  • MC Qu. 160 Webster Corporations monthly...Webster Corporation's monthly projected general and administrative expenses include $5
    7·1 answer
  • a system of accounting for production operations that produces timely information about inventories and manufactyring cost per u
    15·1 answer
  • A client is interested in investing in the real estate sector, but shows great concern about the possibility of depreciation wit
    12·1 answer
  • What type of consideration does the proposed insured offer to an insurance company?
    9·1 answer
  • A high level of information asymmetry between insiders and outsiders encourages a greater use of debt relative to equity, as wel
    8·1 answer
  • Employers will be evaluating your attitude and communication skills during an interview. Please select the best answer from the
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!